A-LevelAccountingBank ReconciliationOct/Nov 2023Paper 1 Q91 Mark
Which statements describe the benefits of preparing a bank reconciliation statement? 1 checks the accuracy of transactions recorded on the bank statement 2 ensures that cash in the till agrees with the total of the cash column in the cash book 3 eliminates the possibility of fraud by members of staff 4 ensures that the trial balance and financial statements contain an up-to-date figure for cash at bank
A1 and 2
B1, 3 and 4
C1 and 4 only
D2 and 3
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of bank reconciliation within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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